In this article, we deep dive into the 5 top-performing stocks on Wednesday. For a deeper discussion and an extended list, please see 9 Stocks With Unbelievable Gains.
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5. Ondas Inc. (NASDAQ:ONDS)
Ondas Inc. saw its share prices climb by 10.54 percent on Wednesday to finish at $10.80 apiece, as investors positioned their portfolios ahead of its upcoming annual shareholders’ meeting.
According to the company, it is scheduled to hold its stockholders’ meeting on Thursday, May 28, pushing investors to load up on its shares as they await key business updates and outlook for the year.
Among the issues in focus are its planned acquisition of Omnisys Ltd., an Israeli developer of AI-powered Battle Resource Optimization software for multi-domain defense planning and real-time decision-making.
Ondas Inc. (NASDAQ:ONDS) said that the acquisition would mark a major milestone in its evolution into a software-defined defense technology company, with Omnisys’ platform expected to serve as a core orchestration layer across its growing autonomous systems portfolio, enabling mission planning, operational coordination, and real-time battlefield resource optimization across sensors, autonomous systems, and defense assets operating within complex mission environments.
In other news, Ondas Inc. (NASDAQ:ONDS) reported a strong earnings performance in the first quarter of the year, having swung to a $361 million net income from the $14 million net loss in the same period last year.
Revenues soared by 1,093 percent to $50.12 million from $4.2 million year-on-year.
4. Shoals Technologies Group Inc. (NASDAQ:SHLS)
Shoals Technologies soared to a new two-year high on Wednesday following three straight days of gains, as investors took heart from its expansion program with the opening of a new $30 million mega facility in Portland, Tennessee.
In intra-day trading, Shoals Technologies Group Inc. (NASDAQ:SHLS) climbed to a record high of $12.50 before paring gains to end the session just up by 12.01 percent at $12.12 apiece.
Last week, the company announced that it officially opened the 638,000-square-foot facility in the said state, significantly expanding production capacity, increasing automation in production and packaging, and leveraging operational efficiencies to support increasing demand across the energy sector.
Shoals Technologies Group Inc. (NASDAQ:SHLS) said that it programmed as much as $80 million in capital expenditures for the facility in a bid to strengthen its ability to deliver safe, efficient and reliable power infrastructure solutions across solar power, battery energy storage systems (BESS), and mission-critical facilities, including data centers.
“As demand for energy infrastructure continues to accelerate, this new Mega Facility allows Shoals to scale alongside our customers and meet the needs of a rapidly evolving energy landscape,” Shoals Technologies Group Inc. (NASDAQ:SHLS) CEO Brandon Moss said.
“By expanding our domestic manufacturing footprint and bringing increased capacity, we are strengthening the American energy supply chain and enabling faster, more efficient energy deployment,” he noted.
3. IREN Ltd. (NASDAQ:IREN)
IREN Ltd. saw its share prices grow by 13.48 percent on Wednesday to close at $67.84 apiece, as investor sentiment was boosted by the successful acquisition of Nvidia Blackwell systems—a move expected to bolster its annualized run-rate revenues (ARR) to $4.4 billion.
In a statement, IREN Ltd. (NASDAQ:IREN) said that it entered into an agreement with Dell Technologies for the acquisition of the air-cooled systems for $1.6 billion, to service its previously announced five-year, $3.4-billion managed services AI cloud contract.
The company said that the Blackwell systems will be deployed across its existing data centers in Childress, Texas, with official commissioning targeted for early 2027.
The transaction, it said, forms part of its ongoing investment to accelerate time-to-compute.
“Securing capacity and accelerating commissioning are our top priorities in a market where time-to-compute is everything. Hyperscalers, enterprises, and developers choose IREN as a partner because we own and control the full stack—the physical infrastructure, the compute, and the operational capability to deploy at scale,” said IREN Ltd. (NASDAQ:IREN) co-founder and co-CEO Daniel Roberts.
“Our relationship with Dell ensures access to hardware at the scale and speed the market demands. Every deployment we complete makes the next one faster, and that compounding execution advantage is what we are building,” he noted.
2. Intuitive Machines Inc. (NASDAQ:LUNR)
Intuitive Machines soared by 15.72 percent on Wednesday to close at $40.34 apiece, as investors continued to load portfolios amid developments surrounding the space industry, still buoyed by SpaceX’s upcoming IPO and the National Aeronautics and Space Administration’s (NASA) ambitious Moon exploration program.
NASA is set to provide updates on the Artemis III mission at a news conference at the Johnson Space Center in Houston, Texas, on June 9. It will also name the four astronauts assigned to the test flight.
Artemis III is set to take off from the Kennedy Space Center in Florida, aboard the Orion spacecraft on the SLS rocket.
While Intuitive Machines Inc. (NASDAQ:LUNR) is not directly involved in the said mission, the upcoming launch is expected to fuel broader optimism across the sector and create additional contract opportunities for key players in the industry.
In March this year, Intuitive Machines Inc. (NASDAQ:LUNR) clinched a $180.4 million contract with NASA for the delivery of science and technology to the lunar surface as part of the agency’s Commercial Lunar Payload Services initiative and Artemis program.
The lunar delivery includes seven payloads—five of them NASA’s—and is expected to increase understanding of the chemical composition and structure of regolith, as well as the radiation environment in and around the South Pole region.
Further buoying sentiment was SpaceX’s widely anticipated public offering later this year, expected to be the largest offer so far in history, with an aim to raise $75 billion in fresh funds and a valuation close to $2 trillion.
The IPO has reinforced investor confidence in the long-term growth potential of the commercial space sector.
1. Qfin Holdings Inc. (NASDAQ:QFIN)
Qfin Holdings saw its share prices climb by 25.02 percent to close at $15.74 apiece, as investors took heart from its stellar performance in the first quarter of the year, with profits more than doubling.
In an updated report, Qfin Holdings Inc. (NASDAQ:QFIN) said that it was able to grow its net income attributable to shareholders by 104 percent to 1.8 billion yuan from 883 million yuan in the same period last year. Total revenues increased by 20 percent to 4.69 billion yuan from 3.9 billion yuan year-on-year.
“In the first quarter, the industry continued to undergo deep adjustments while regulations tightened further. Yet we withstood the pressure. Through proactive efforts to tighten our credit standards, optimize our loan portfolio, and streamline operations, we demonstrated strong resilience, achieving improved risk performance and other operational metrics. More importantly, as we expand our user base to serve more high-quality customers, we are building a more sustainable business model capable of navigating cycles,” Qfin Holdings Inc. (NASDAQ:QFIN) CEO Haisheng Wu said.
“Looking ahead, near-term uncertainties are likely to persist, and industry participants continue to adjust operations to reflect the changing regulatory environment. However, as the industry landscape reshapes, we believe the entire ecosystem of the consumer finance market will become healthier and more efficient, which should be more conducive to our long-term development,” he noted.
For the second quarter, Qfin Holdings Inc. (NASDAQ:QFIN) expects net income to end at 830 million to 910 million yuan, and non-GAAP net income of 900 million to 980 million yuan, or an implied decline of 47 to 51 percent year-on-year.
While we acknowledge the potential of QFIN to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than QFIN and that has 100x upside potential, check out our report about the cheapest AI stock.
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